Google’s reach is far, wide, tall, and all encompassing. They control much of what we hear already. Now, they’re dropping a bit in the bucket to invest into an actual record label.
Google already runs the world’s biggest music service. Soon it’s going to own a little bit of the music business, too.
Emphasis on little. Google is providing a sliver of financing for a new label that will be run by Lyor Cohen, the veteran music executive. People familiar with the transaction say Google should end up putting a mere $5 million into the new venture.